TOPIC 11 – EXCISE TAX ON BRAND NEW AUTOMOBILES (QUIZ)

A shipment of 8 units of traditional automobile, 2023 yr. model, 5 seater, 2,000 cc engine displacement, valued at CIP $25,000.00 per unit was consigned to a car manufacturer. The shipment had a gross importer’s selling price of P2,750,000.00 per unit whereas the dealer’s suggested retail price is P3,250,000.00, inclusive of excise tax and value-added tax. The excise tax and value-added tax was P350,000.00. The cost of importation is P2,250,000.00 per unit. How much is the total ad valorem tax, inclusive of value-added tax?

• P4,480,000.00

• P4,000,000.00

• P3,840,000.00

• P4,300,800.00

A shipment from Japan 10 units of traditional passenger vans, 12 seater, 2023 yr. model, 2.5 liters engine displacement had CFR value $32,000.00/unit was imported by a car dealer. The covering invoice shows freight charges of $2,000.00/unit whereas the bill of lading shows freight charges of $2,100.00/unit. Based on exchange rate P49.75/$1.00, how much is the total customs duty?

• P4,970,025.00

• P3,303,400.00

• P3,313,350.00

• P4,955,100.00

A shipment of 15 units of passenger vans, 2023 yr. model, 12 seater, powered by electric and gasoline from China was consigned to a car manufacturer. The covering invoice shows total CIF value of $90,000.00, inclusive of freight charges and total marine insurance of $16,500.00 and $3,550.00 respectively. The shipment had a total miscellaneous expense of P28,500.00. The gross importer’s selling price was P5,250,000.00 per unit inclusive of excise tax and value-added tax of P1,120,000.00, how much is the total ad valorem tax paid to BOC?

• P30,975,000.00

• P34,692,000.00

• P15,487,500.00

• P17,346,000.00

A car manufacturer imported 5 units of traditional automobiles, 2023 yr. model, 5 seater, 1,800 cc engine displacement. The total dutiable value was assessed at P5,179,200.00 while the total miscellaneous expense was assessed at P22,878.00. The dealer’s suggested retail price was P1,150,000.00 per unit, net of excise tax and value-added tax of P320,000.00. Compute the total ad valorem tax, inclusive of value-added tax.

• P3,783,269.28

• P515,200.00

• P415,000.00

• P464,800.00

Fast X Inc. imported from Germany 3 units of 2023 yr. model automobiles, 5 seater with net importer’s selling price of P1,800,000.00 per unit. The total dutiable value was P3,420,000.00 while the total miscellaneous expenses was P38,010.00. If the total ad valorem tax was P1,080,000.00, compute the total value-added tax.

• P538,081.20

• P497,041.20

• P626,641.20

• P667,681.20

Speed Corporation imported 10 units of traditional automobile, 2023 yr. model, 5 seater, 2,000 cc diesel engine displacement, valued at FOB $15,000.00/unit. The dealer’s suggested retail price was P775,000.00 per unit, inclusive of excise tax and value-added tax of P86,800.00. The cost of importation is P450,000.00 per unit. Inclusive of value-added tax, how much is the total ad valorem tax?

• P246,650.88

• P220,224.00

• P200,000.00

• P224,000.00

Mr. Jose Legazpi brought his 1 unit traditional automobile: 4 seater, 2023 yr. model and 2 liters gasoline engine displacement from Japan. The total customs value was $17,500.00. The bill of lading shows freight charges of $1,400.00. The total miscellaneous expense was assessed at P8,115.75. Based on exchange rate of P43.50/$1.00, how much is the total ad valorem tax, net of value-added tax?

• P111,649.58

• P223,299.15

• P250,095.05

• P125,047.52

Ms. Imelda Reyes brought her 1 unit traditional passenger van, 2023 yr. model, 12 seater from Korea with total CFR value of $12,800.00. The invoice shows freight charges of $1,100.00 while the bill of lading shows freight charges of $1,200.00. The total miscellaneous expense was assessed at P7,698.16. The rate of exchange was P53.750/$1.00. Inclusive of value-added tax, how much is the total ad valorem tax?

• P105,480.16

• P94,178.72

• P97,432.63

• P86,993.42

A shipment of 1 unit traditional automobile, 1,500 cc engine displacement, 2023 yr. model, 5 seater, was brought by a Filipino businessman with assessed dutiable value of P935,000.00 while the miscellaneous expense was P8,218.75. How much is the total value-added tax?

• P176,215.50

• P146,846.25

• P135,626.25

• P162,751.50

A shipment of 1 unit of brand new automobile, 2023 yr. model, 5 seater, powered by electric power combined with gasoline for motive power was consigned to a Filipino businessman, with dutiable value of P320,100.00 and miscellaneous expense of P6,950.13. How much is the total ad valorem tax paid to BOC?

• P16,923.21

• P18,953.99

• P8,461.60

• P9,476.99